Business plan and process of project management

Business planning is the most important part it doesn’t matter you are starting a new business or you want to grow your business, but you will need a planning in each and every stage of your business for the positive growth of it. The Plan is the written thoughts for your business future. Planning is done to set the business objective and how it will be executed and what you will be doing and how and what will be the strategies to complete the project or business plan. This plan works like a map to you achieve the final objectives and it helps to keep focus and stick to the path that you have decided to go on. The first and important part in writing the business plan is what type of business you want to do and where you see your business in three or four years. Example like if you want to open a new business like you want to open a software company where you want to sell antivirus to the customer then very first thing you will do is you will make plans about how it will go on first you will check how much capital it requires to start up, then you will collect some research about things like what kind of antivirus you will sell and who will be the targeted audience. Then you will check what kind of workplace you required and how many employees you need to give a quick start. Then you will check your competitors and analyze their work culture that how they are working and you will gain some knowledge from them. After making the complete chart that how you will be performing things in your new business then you will give start by implementing these planned things that you have made and these planned things will help you to focus on the main target rather than other things. This is called process of project management.

Core business plan sections

Company Analysis: this is to analysis your own product that what type of product or services you are providing now and what type of service you will be given in the future this will give you the clear picture that what you have to do now and what you have to do later.

Industry Analysis: This is the most important part because this will give the clearest view of your market that how big it is and what are the latest trends are going and what are the upcoming trends this will help to calculate your present and future changes in the business to earn more profit.

Competitive Analysis: Study of competitors plays the major role in the business plan because this helps to know their strength and weakness which helps to know how you can gain a competitive advantage by that and how?

Customer Analysis: This helps to know the customers needs in the best way which helps you to target the customer according to your product or services.

Marketing Plan: This helps to calculate that how you will reach to your customer and in what ways what will be the marketing strategies so that customers knows about your product and buys it from the market.

Operations Plan: You must set the milestone to accomplish your target and which helps to calculate things about where are you now and where you will be in a few years or at the end of the year.

Financial Plan: This very import part you should know how you will be getting money or how you are spending it or you need and external investment in your business or not and what will the profits of your project and what assets do you own.